The US/UK Pharma Trade Deal: What It Could Actually Mean for Launches and Payer Conversations

The US/UK pharma trade deal doesn’t change everything, but it does shift the landscape launch and access teams are working within.

One practical part of the deal is that medicines made in the UK can now be exported to the US without tariffs, at least for the next few years. That doesn’t suddenly make US launches easier, but it does remove one awkward unknown from pricing and supply planning. When teams are already juggling timelines, uptake assumptions and internal pressure, having one less “what if” in the model actually helps more than it sounds (ABPI, Dec 2025).

Where it gets more relevant for access teams is on the UK side. Alongside the trade deal, the UK has made changes to how new medicines are assessed and paid for. NICE’s cost-effectiveness threshold is increasing for the first time in decades, and the rebate paid back to the NHS on newer medicines is being capped (ABPI; VWV).

None of that means access suddenly becomes easy. But it does slightly change the tone of discussions. Instead of starting from “this will be very difficult”, there’s more space to talk about value, evidence and where a medicine fits in practice. For some products, especially those that used to sit just outside the old thresholds, that difference really matters.

This also feeds into launch sequencing. For years, many companies have pushed the UK later almost by default. Not because it wasn’t important, but because pricing and reimbursement felt uncertain and hard to plan around. With the US looking a bit more predictable on costs, and the UK framework softening slightly, it becomes easier to justify bringing the UK into launch planning earlier rather than leaving it to the end.

That tends to change payer conversations too. When companies feel boxed in, discussions are often very transactional and short term. When there’s a bit more flexibility, teams can spend more time on outcomes, real-world evidence and longer-term use, rather than jumping straight to price.

There are, of course, concerns. Some commentators have pointed out that higher thresholds and increased spend on new medicines could add real pressure to NHS budgets over time, which will influence how payers respond going forward (BMJ, 2025). That tension doesn’t disappear, it just shows up in different ways.

The main point is that this deal doesn’t transform launches overnight. But it does gently shift how launch plans are built and how access conversations start. And in pharma, those small shifts in assumptions often end up having a bigger impact than people expect.